First Global Achieves 34 US State Money Transmitter Licenses and Launches Online Remittance Service in Canada

TSX Venture Exchange: FGD
Frankfurt Stock Exchange: 1G5

TORONTO, Nov. 14, 2017 /CNW/ - First Global Data ("First Global" or the "Company") is pleased to announce that its wholly owned US subsidiary, First Global Money Inc, has been granted three additional Money Transmitter licenses in the USA.

The Company has obtained new licenses in the states of Washington, Wisconsin and Washington DC taking the number of licenses to 34.

First Global is also pleased to announce that it has launched its online money transfer service in Canada.

This service enables Canadian customers to electronically debit funds from their bank accounts and to send funds to their friends and family in Guyana, Jamaica, Malaysia, the Philippines, and India within seconds.

This marks the first phase of the Canadian online launch. The Company plans to increase the number of destination countries and to launch a similar service in the USA.

"We have made great progress in our license expansion program in the USA. These licenses lay the foundation for transactional growth for our existing US remittance business, enables us to expand services we are already providing with our large strategic partners such as Lianlian, and positions the company well as we move toward the deployment of mobile payment services with strategic partners in the USA. The launch of our new online service, which can be found at www.firstglobalmoney.com, is a significant milestone. Next steps include an awareness campaign of this service, and we expect a significant contribution in new customers and transactional growth through our licensees and key partners. These groups will be actively marketing services through various electronic media to their existing client bases and new customers. This approach is in line with our corporate strategy of growth through partnerships and I am excited that this next milestone has been achieved", commented Andre Itwaru, Chairman and CEO of First Global Data Limited.

About First Global Data Ltd. (www.firstglobaldata.com)
First Global is an international financial services technology ("FINTECH") company. The Company's two main lines of business are mobile payments and cross border payments. First Global's proprietary leading edge technology enables the convergence of compliant domestic and cross border payments, shopping, Peer to Peer ("P2P"), Business to Consumer ("B2C"), and Business to Business ("B2B") payments. First Global enables its strategic partners and clients around the world with our leading edge financial services technology platform.

Caution:
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The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities offered in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward Looking Information:
This news release contains "forward-looking information" within the meaning of applicable securities laws. Although First Global believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because First Global can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release. First Global undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of First Global, its securities, or financial or operating results (as applicable). First Global disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE First Global Data Limited